According to its current surveys, the Federation of Austrian Industries (IV, Secretary General Christoph Neumayer) expects a recession in the manufacturing sector in the winter months.
The IV economic barometer shows that the high order backlog of the companies has had a stabilizing effect so far, but that the stocks are now rapidly decreasing because there are also fewer bottlenecks in the supply chains. The majority of companies cannot rule out production cuts – such as those in the fertilizer industry, animal feed production and the paper industry. According to this, every second Austrian industrial company expects a sometimes significant deterioration in business prospects.
According to the Future Monitor, which the IV collected with the Ifes research institute, almost two-thirds of those surveyed say Austria is moving in the wrong direction. Politicians have lost a lot of trust during the crisis, while the judiciary and companies have gained.
Source: Nachrichten
